Fortuna Mining (FSM) closed at $8.21 in the latest trading session, marking a -1.68% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.47%. On the other hand, the Dow registered a gain of 0.11%, and the technology-centric Nasdaq increased by 0.94%.
The stock of silver and gold miner has risen by 14.38% in the past month, leading the Basic Materials sector's gain of 4.93% and the S&P 500's gain of 2.32%.
The investment community will be closely monitoring the performance of Fortuna Mining in its forthcoming earnings report.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.69 per share and a revenue of $0 million, representing changes of +50% and 0%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Fortuna Mining. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Fortuna Mining possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Fortuna Mining is currently exchanging hands at a Forward P/E ratio of 12.1. This indicates a discount in contrast to its industry's Forward P/E of 19.18.
The Mining - Miscellaneous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 153, this industry ranks in the bottom 39% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Fortuna Mining Corp. (FSM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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